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    350 Ira Turner Rd Leakesville, MS 39451

    For Sale
    $1,095,000

    High-Yield RV Park, 25 Units, Mississippi

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    Exceptional investment opportunity: a 25-unit mobile home park in Leakesville, Mississippi, currently operating as an RV park. This Class B property, built in 1999, sits on a 4.24-acre lot and includes 20 park-owned mobile homes, four cottages, and a 1500+ square foot house. The property boasts a 12% cap rate with a current Net Operating Income (NOI) of $189,000, achieved after a rent increase in June 2023. The property features an on-site manager responsible for groundskeeping and maintenance. The asking price is $1,095,000, representing a price per unit of $43,800. The property offers significant upside potential through further rent increases and the possibility of adding additional units. The sale includes 25 buildings, all single-story structures. Year models and sizes of homes are available upon request. The property's occupancy date was May 25, 2022. The owner is retiring and seeking a buyer for this lucrative, established business. This is a turnkey operation with proven profitability and significant growth potential. Contact us today to learn more.

    Property Features for 350 Ira Turner Rd

    General Information

    Property type
    Multifamily properties
    Class
    B
    Lot Size
    184,694 SF

    Building Details

    Year Built
    1999
    Buildings
    25
    Stories
    1
    Units
    24
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Law Firm Electronics Store Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leakesville
    County
    Greene
    State
    Mississippi
    Longitude
    -88.604021428854
    Latitude
    31.149854735133

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield RV Park, 25 Units, Mississippi
    Where is this multifamily property located?
    The property is located at 350 Ira Turner Rd Leakesville, MS.
    What is the asking price?
    The asking price for this property is $1,095,000.
    Request Owner's contact information
    350 Ira Turner Rd Leakesville, MS 39451
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    Leakesville, MS 39451
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    350 Ira Turner Rd Leakesville, MS 39451
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